Press briefing of Cabinet Decision taken on 2017-12-19

Building of the Colombo International Financial Complex (CIFC) in the Colombo Port City

- Presently around 50% of the reclamation work of the Colombo Port City Development Project is completed and the construction of the Colombo International Financial Complex is scheduled to be commenced in the latter part of the year 2018. The internal infrastructure facilities, construction plans required for the purpose have now been completed and its environment impact assessment is open for public comments. An international competition has been held to select the design for the proposed building complex and 'Skid more Owings and Merrill (SOM)' of the United States of America selected accordingly has been awarded the contract to design the complex.

The investment for the proposed construction is around US$1 billion and accordingly, the proposal made by Hon. Patali Champika Ranawaka, the Minister of Megapolis and Western Development, to enter into a non-binding Memorandum of Understanding between the China Harbour Engineering Corporation, the Ministry of Megapolis and Western Development and the Colombo Port City (Pvt.) Ltd. to enable to secure this sum as a foreign direct investment, was approved by the Cabinet.